CLOUD & CYBER
mainstream , but we will be there in the next few years ."
in the commercial sector , and is also driving its growth among consumers , says Callum Rimmer , co-founder of By Bits . He explains , " The cost of existing telematics solutions ( Hardtop , OBD II , and Mobile ) has been going down year on year for a while . This has driven adoption in a number of different sectors and applications .”
Rimmer says the data telematics provides can transform processes and product offers which is creating opportunities for innovation . The data , and its use , will become mainstream ; the acquisition of the data is secondary , he asserts .
“ Existing telematics solutions will be replaced by data sourced directly from the vehicles . The ubiquity of data and its cost of acquisition aren ' t quite there yet for it to be
5G , connectivity and telematics innovation The introduction of 5G services will be a boost to the telematics industry as it is strongly reliant on connectivity . Unlike other developments in the insurtech space , electrical engineering , rather than AI , is the driving technology .
Morris-Fletcher says , “ 5G is up to 100 times faster than 4G , and its introduction to telematics means information can travel between the various tech touchpoints much faster . This means businesses can meet the needs of their customers much more effectively .”
But device development and GPS technology also play a crucial role . ThingCo ’ s flagship device , Theo , combines solar power , high-grade GPS , a sensitive accelerometer , AI automated crash detection and voice controls . The company has also created a serverless solution using AWS IoT to process thousands of data points in real-time .
Morris-Fletcher says the system enables complete transparency for insurers and improves the safety of drivers . “ In an accident , a voice command activates using the device ’ s inbuilt microphone and speakers so that the customer can immediately confirm or deny the accident , reducing false alerts and putting insurers in much greater control . We identify exactly what has happened , establish if anyone is injured and need emergency services or other services such as a hire car to get them home ,” he says .
Bridging the gap between cutting-edge devices , analytics and connectivity is the aim of the game , and robust solutions that provide these services will result in greater uptake among consumers , says Rimmer , who points out that hardtop , OBD II , and